Title
Resolution to approve the dissolution of Tax Incremental District Number Nine (Pioneer Neighborhood) of the City of West Allis and authorization to distribute excess increment to overlying taxing district
Body
WHEREAS, the City of West Allis (the "City") passed a creation resolution, R-2006-0073, creating Tax Incremental District Number Nine (Pioneer Neighborhood) on March 21, 2006 and also adopted a Project Plan on March 21, 2006 by resolution R-2006-0072; and,
WHEREAS, all of Tax Incremental District Number Nine's (Pioneer Neighborhood) projects were completed under the allowed time of 27 years; and,
WHEREAS, pursuant to 66.1105 of the Wisconsin Statutes, Tax Incremental Districts shall be dissolved when the city has received aggregate tax increments in an amount sufficient to pay the aggregate of all project costs incurred or to be incurred under the project plan for the district; and,
WHEREAS, sufficient increment has been collected as of the 2019 tax roll, payable 2020, to cover Tax Incremental District Number Nine (Pioneer Neighborhood) project costs.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis, that the City of West Allis does dissolve Tax Incremental District Number Nine (Pioneer Neighborhood) in accordance with the requirements of Section 66.1105(8).
BE IT FURTHER RESOLVED that the City of West Allis will notify the Wisconsin Department of Revenue prior to the deadline of April 15, 2020 that the District will be terminated.
BE IT FURTHER RESOLVED that the City of West Allis Clerk shall sign the required Wisconsin Department of Revenue final accounting form agreeing on a date by which the City shall send final audited information to the Wisconsin Department of Revenue.
BE IT FURTHER RESOLVED that the City Treasurer shall distribute any excess increment collected after providing for ongoing expenses of the District, to the affected taxing districts with proportionate shares to be determined by the final au...
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